The price of natural gas has been turbulent since the early days of the pandemic, but a recent shift in winter weather could steady the energy sector
The 'Hoegh Esperanza' Floating Storage and Regasification Unit is anchored during the opening of the LNG terminal in Wilhelmshaven, Germany, Dec. 17, 2022.
The premium of futures for March over April fell 54% to a record low of nine cents per million British thermal units on Tuesday, according to data provider Refinitiv. The spread hit record $2.13 per mmBtu in May 2022 as demand for U.S. liquefied natural gas exports soared in response to Russia's supply shutdown.
In an interview with FOX Business, Tim Rezvan, an equity research analyst with KeyBanc Capital Markets, said "The recent weak closing price, in the face of a polar vortex that paralyzed much of the U.S. over the last week, paints a lukewarm near-term outlook for the commodity."
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